Trump administration pushes for stronger trade pressure
- 6 years ago
As part of its trade protection policies, the Trump administration is considering imposing more import restrictions and tariffs on foreign producers including South Korea... in the name of national security.
And Korean tech firms could also see trade restrictions after complaints of patent infringements.
Cha Sang-mi has more.
Concerns are growing over the fate of Korea's major export items in the wake of continued global import restrictions by the United States, including recent safeguard measures against Korean-made steel and washing machines.
The U.S. International Trade Commission on Sunday said it had already opened up a probe into several global tech giants, including South Korea's Samsung Electronics and SK Hynix on January 19th to look into whether the companies are infringing upon intellectual property rights of solid-state drives.
The investigation came after a U.S. chipmaker BiTMICRO had filed a complaint against the firms in early January.
The U.S. ITC can restrict import items under "Section 337" of the Tariff Act on allegations of patent or trademark infringement.
As Samsung Electronics has the largest SSD market share in the U.S., with 30 percent of the market, and SK Hynix is ranked seventh, some industry leaders see the move as a way to target the Korean firms.
KOTRA, the Korea Trade Promotion Corporation also picked steel, home appliances, and cars as areas that are likely to see import restrictions in the first half of 2018.
"Whether it will really target the semiconductor industry or not depends on which kind of firms file a petition, but seeing the Trump administration wants to protect its domestic firms, the trade pressure is likely to grow.
The U.S. Department of Commerce urged the Trump administration last week to impose steep tariffs and quotas on imported steel and aluminum,... including shipments from South Korea.
According to "Section 232" of the national security review unveiled on Friday, President Trump will decide in April whether to impose global tariffs of at least 24 percent on all steel products, or impose 53 percent tariffs on steel from a dozen countries, including South Korea, China, and Brazil.
The Commerce Department had also called for a seven-point-seven percent tariff on all global aluminum imports.
Cha Sang-mi, Arirang News.
And Korean tech firms could also see trade restrictions after complaints of patent infringements.
Cha Sang-mi has more.
Concerns are growing over the fate of Korea's major export items in the wake of continued global import restrictions by the United States, including recent safeguard measures against Korean-made steel and washing machines.
The U.S. International Trade Commission on Sunday said it had already opened up a probe into several global tech giants, including South Korea's Samsung Electronics and SK Hynix on January 19th to look into whether the companies are infringing upon intellectual property rights of solid-state drives.
The investigation came after a U.S. chipmaker BiTMICRO had filed a complaint against the firms in early January.
The U.S. ITC can restrict import items under "Section 337" of the Tariff Act on allegations of patent or trademark infringement.
As Samsung Electronics has the largest SSD market share in the U.S., with 30 percent of the market, and SK Hynix is ranked seventh, some industry leaders see the move as a way to target the Korean firms.
KOTRA, the Korea Trade Promotion Corporation also picked steel, home appliances, and cars as areas that are likely to see import restrictions in the first half of 2018.
"Whether it will really target the semiconductor industry or not depends on which kind of firms file a petition, but seeing the Trump administration wants to protect its domestic firms, the trade pressure is likely to grow.
The U.S. Department of Commerce urged the Trump administration last week to impose steep tariffs and quotas on imported steel and aluminum,... including shipments from South Korea.
According to "Section 232" of the national security review unveiled on Friday, President Trump will decide in April whether to impose global tariffs of at least 24 percent on all steel products, or impose 53 percent tariffs on steel from a dozen countries, including South Korea, China, and Brazil.
The Commerce Department had also called for a seven-point-seven percent tariff on all global aluminum imports.
Cha Sang-mi, Arirang News.